0000000000430752
AUTHOR
Andrejs Romanovs
Domain specific simulation language for IT risk assessment
Information technology systems represent the backbone of a company's operational infrastructure. A company's top management typically ensures that computer software and hardware mechanisms are adequate, functional and in adherence with regulatory guidelines and industry practices. Nowadays, due to depressed economic and increased intensity of performed operations, business highly recognizes the influence of effective Information Technology risk management on profitability. Design of Unified Modelling Language (UML) based Domain Specific language (DSL) described in this paper achieves synergy from in IT industry widely used UML modelling technique and the domain specific risk management exte…
New Tendencies of Management and Control of Operational Risk in Financial Institutions
Abstract Nowadays, financial institutions highly recognize a great influence of effective risk management on profit abilities. Therefore risk management became an important part of the financial instrument. According to the latest researches, there still remain problems related to the management of various types of risks. For instance, the Basel Committee of the Bank of International Settlements imposes financial institutions for more intensive devoting their attention to operational risk management problems. Due to the increased intensity of performed financial operations, financial institutions became very vulnerable to operational risks. In many cases, the high level of operational risks…